Gold Price Nears Rs. 180,000 Per Tola After Another Massive Increase

Gold prices continued their unprecedented upward trend in Pakistan on Tuesday as the rupee lost further ground against the US dollar.

According to data shared by the All Pakistan Sarafa Gems and Jewellers Association, the prices of gold increased by Rs. 3,900 per tola and Rs. 3,344 per 10 grams to settle at Rs. 178,800 and Rs. 153,292, respectively.

The per tola price of gold has surged by over 10 percent since the start of the current month, corresponding to an increase of Rs. 17,000 per tola. Some financial pundits expect the per tola price of gold to break the Rs. 200,000 barrier due to the devaluation of the rupee against the US dollar.

In the international market, the price of gold registered an increase of $12 per ounce to cross the $1,800 mark and settled at $1,808.

Silver prices also registered an increase and touched a new all-time high. The prices increased to Rs. 2,050 per tola and Rs. 1,757.54 per 10 grams after an increase of Rs. 30 and Rs. 25.72, respectively.